<p>The present study probes the effect of minor alloying of Dysprosium (Dy) on Zr₄₇Cu₄₀Al₈Ag₅ bulk metallic glass (BMG) by considering thermodynamic and topological factors, such as positive heat of mixing, high oxygen affinity and covalent diameter. The thermal stability and glass-forming ability (GFA) have been evaluated using differential scanning calorimetry (DSC) for Zr₄₇Cu₄₀Al₈Ag₄Dy₁ and Zr₄₇Cu₄₀Al₈Ag₅ alloys. Non-isothermal methods were employed to observe the effect of heating rate on the GFA and thermal stability for both the BMGs. Detailed investigation of variation in activation energy through the crystallization process is carried out using the Kissinger method. Thermal investigation indicates Dy addition results in increased activation energy along with a lower nucleation rate during the crystallization process. Earlier studies have shown, and initial amorphous phase significantly influences crystallization process. Similarly, the current study suggests a strong correlation between amorphous and devitrified phases in Zr₄₇Cu₄₀Al₈Ag₄Dy₁ alloy.</p> Graphical abstract <p></p>